Zacks Investment Research upgraded shares of TCF Financial (NYSE:TCF) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $27.00 price target on the bank’s stock.
According to Zacks, “Shares of TCF Financial have outperformed the industry over the past six months. Also, the company has a decent earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in two of the trailing four quarters. The company’s increasing loans and strong deposit mix will likely continue to aid profitability. Also, it has been benefiting from improving credit quality in consumer real estate portfolio and has witnessed enhanced profitability ratios as well, which keeps us encouraged. However, TCF Financial’s revenues continue to be hurt by the persistently declining banking fees over the last few years. Nevertheless, its several ongoing initiatives, including digital strategy, remains a tailwind.”
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of TCF Financial from a buy rating to a hold rating in a report on Wednesday, July 4th. Jefferies Financial Group reaffirmed a hold rating and set a $26.00 target price on shares of TCF Financial in a report on Monday, July 30th. Sandler O’Neill reaffirmed a buy rating and set a $29.00 target price on shares of TCF Financial in a report on Friday, July 27th. Bank of America raised shares of TCF Financial from a neutral rating to a buy rating and lifted their target price for the stock from $25.00 to $30.00 in a report on Thursday, September 6th. Finally, Wells Fargo & Co set a $25.00 target price on shares of TCF Financial and gave the stock a hold rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. TCF Financial has a consensus rating of Hold and an average price target of $25.81.
TCF Financial stock opened at $22.91 on Wednesday. The stock has a market cap of $3.99 billion, a PE ratio of 19.09, a PEG ratio of 1.12 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.67. TCF Financial has a fifty-two week low of $16.71 and a fifty-two week high of $27.34.
TCF Financial (NYSE:TCF) last announced its earnings results on Friday, July 27th. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $364.90 million during the quarter, compared to the consensus estimate of $361.56 million. TCF Financial had a net margin of 19.04% and a return on equity of 11.81%. TCF Financial’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. Research analysts expect that TCF Financial will post 1.82 EPS for the current fiscal year.
In other TCF Financial news, insider Thomas F. Jasper sold 77,725 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $25.69, for a total value of $1,996,755.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Scott Jones sold 50,000 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $25.70, for a total transaction of $1,285,000.00. The disclosure for this sale can be found here. Insiders sold a total of 139,961 shares of company stock valued at $3,596,710 in the last three months. Insiders own 2.34% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd bought a new stake in TCF Financial in the 2nd quarter valued at about $119,000. Winslow Evans & Crocker Inc. bought a new stake in TCF Financial in the 2nd quarter valued at about $140,000. Smithfield Trust Co. bought a new stake in TCF Financial in the 2nd quarter valued at about $148,000. Cerebellum GP LLC bought a new stake in TCF Financial in the 2nd quarter valued at about $170,000. Finally, NewSquare Capital LLC bought a new stake in TCF Financial in the 2nd quarter valued at about $171,000. 81.39% of the stock is owned by hedge funds and other institutional investors.
About TCF Financial
TCF Financial Corporation operates as the holding company for TCF National Bank that provides various financial products and services in the United States and Canada. It operates through Consumer Banking, Wholesale Banking, and Enterprise Services segments. The company offers checking, savings, and money market accounts; certificates of deposits; and individual retirement accounts.
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